The payment of an amount owed to a creditor would:
A)decrease assets.
B)increase net income.
C)decrease liabilities.
D)both decrease assets and decrease liabilities.

Name: The payment of an amount owed to a creditor would: A)decrease assets. B)increase net income. C)decrease liabilities. D)both decrease assets and decrease liabilities.
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Question

Quizplus · Accepted Answer

Paying a creditor decreases assets (cash) and decreases liabilities (the amount owed).

The Payment of an Amount Owed to a Creditor Would